President Ellen Johnson Sirleaf has written the House of Representatives, seeking an extension in the submission of 2015/2016 draft national budget.
The Liberian leader, in her communication addressed to Speaker Alex Tyler, alibied that the budget was still being critically prepared and so asked that august body to present it May 31, instead of the previous timetable of April 30.
President Sirleaf told the lawmakers that the revenue forecast for the 2015/16 was below what was previously projected—US$440 million, compared to US$468 million.
“Our preliminary estimate for the recurrent cost of government is US$ 505 million. We estimate that on top of this, we will need a further US$ 171 million for Public Sector Investment Plan expenditure to cover critical items in the Agenda for Transformation and Economic Recovery and Stabilization Plan,” the President’s letter read.
The Liberian leader further disclosed that total projected expenditure, recurrent and Public Sector Investment Plan amounted to US$676 million.
“When this is matched against the total revenue envelope (recovering core revenue and financing), the funding gap is US$ 134.8 million,” she added in the letter.
She said without the existing identified financing, the gap would be US$193.4 million.
She told the lawmakers that she was going to instruct the Minister of Finance & Development Planning, Amara Konneh, to brief them further.
Accordingly, when the instrument was read landed on the flood, members of that body forwarded it to the Committees on ways, Means, & Finance and Public Accounts & Expenditure to carefully review the communication and advise the plenary.
Speaking Tyler in his subjection said “Because the President is talking about figures in her little, we need to look at it. We cannot just note it, but our committees need to review it.”